BlackRock Inc. Acquires 6,568,394 Shares of AdaptHealth Corp. (NASDAQ:AHCO)

BlackRock Inc. raised its holdings in shares of AdaptHealth Corp. (NASDAQ:AHCO – Get Rating) by 122.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,922,007 shares of the company’s stock after acquiring an additional 6,568,394 shares during the quarter. BlackRock Inc. owned about 0.09% of AdaptHealth worth $223,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Trexquant Investment LP bought a new stake in shares of AdaptHealth during the 2nd quarter valued at $626,000. Resource Consulting Group Inc. purchased a new stake in shares of AdaptHealth in the third quarter worth about $2,646,000. TCW Group Inc. bought a new position in shares of AdaptHealth in the third quarter valued at approximately $503,000. Macquarie Group Ltd. purchased a new position in AdaptHealth during the third quarter valued at approximately $3,483,000. Finally, Kennedy Capital Management Inc. lifted its stake in AdaptHealth by 10.6% in the 2nd quarter. Kennedy Capital Management Inc. now owns 629,106 shares of the company’s stock worth $11,349,000 after purchasing an additional 60,371 shares in the last quarter. Hedge funds and other institutional investors own 86.33% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Everest Hill Group Inc. sold 340,000 shares of the stock in a transaction dated Thursday, January 12th. The stock was sold at an average price of $20.00, for a total transaction of $6,800,000.00. Following the transaction, the insider now directly owns 13,459,998 shares in the company, valued at approximately $269,199,960. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,140,000 shares of company stock valued at $23,269,789 over the last 90 days. Insiders own 17.30% of the company’s stock.

AdaptHealth Stock Down 4.6 %

Shares of NASDAQ:AHCO opened at $13.16 on Tuesday. The firm has a market capitalization of $1.77 billion, a PE ratio of 50.62, a price-to-earnings-growth ratio of 0.61 and a beta of 0.71. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.00 and a current ratio of 1.28. AdaptHealth Corp. has a 52-week low of $11.40 and a 52-week high of $27.48. The firm has a fifty day moving average of $19.90 and a 200 day moving average of $20.33.

Wall Street Analysts Forecast Growth

AHCO has been the subject of a number of recent analyst reports. SVB Securities reduced their price target on shares of AdaptHealth from $30.00 to $23.00 in a research report on Wednesday, March 1st. Truist Financial reduced their target price on AdaptHealth from $28.00 to $20.00 in a research report on Wednesday, March 1st. Finally, Robert W. Baird lowered their price target on AdaptHealth from $31.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, March 1st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $25.33.

AdaptHealth Profile

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AdaptHealth Corp. engages in the provision of home healthcare equipment, supplies and related services. It focuses on sleep therapy equipment to individuals suffering from obstructive sleep apnea (OSA), home medical equipment to patients discharged from acute care and other facilities, oxygen and related chronic therapy services in the home, and HME medical devices and supplies on behalf of chronically ill patients with diabetes care, wound care, urological, ostomy, and nutritional supply needs.